Shanghai Nonferrous Metals News
SMM: As of last Friday, nickel laterite inventory at Chinese ports fell by 472 kt to 13.7 mln t (116.8 kt in Ni metal), a decline of 3.8 kt (in Ni metal) from 7th February. Nickel laterite inventory at the major seven large ports was 10.85 mln t, down 480 kt from last week.
Mainstream nickel laterite prices rose slightly w-o-w, with Philippine nickel laterite (Ni 1.5% grade) prices sitting at USD41/t CIF China.
High NPI remained stable at low levels this week, with prices at RMB 960~970/Ni unit ex-works on Friday, 14th February, the same as last week.